Search the Internet          Tips  Sites: Finance, Investment

Speeding foreign investment a priority, says India

India said at its mid-year review of the economy on Tuesday that speeding up foreign investment was a "high priority" and privatisation was an integral part of reforms.

India's privatisation programme, which has a target to raise Rs 12,000 crore (Rs 120 billion) in the current year to March 2003, recently hit a roadblock due to a rift in the government over the strategic sale of two cash-rich oil firms.

India, the world's 12th largest economy, has been aggressively seeking foreign direct investment to boost growth.

A few years ago, it set an annual target of attracting $10 billion in foreign direct investment, but has managed only to get only $3.0-$4.0 billion each year.

ALSO READ:
Mid-term Economic Review 2002
More Money Headlines